Suncor Energy Inc T.SU

Short position

[lifeisgood1010]

On a daily basis, we hear all kind of story about the market.

For most of us small investors, there are not many tools we can get to verify these allegations.

In the past few weeks, i have been hearing that the shorts on the oil paper market is VERY HIGH.

Is that a true fact? I don't know.

But if true, in this kind of environment, it take solid nerve to stay short.

Tomorrow will bring us new news on speculation of the next move from Israel.

This will again move price.Up or down.Again who knows what will be the direction.

The downtred that started in Early July as been broken to the upside.

Obviously,the slightest hit on any Iranian oil facility will have a big impact on 
oil price.

It is not to the advantage of anyone to do so(especially the Americans).
The 1 million $ question is :Is Netanhayu crazy enough to go against the Biden adm.
Or will he wait to see if his Trump friend win the election

I know that if i were short and sitting on a nice profit, i would cover at least a portion of it.

[mrbb]

oil stock recovery is little behind the oil price recovery SU is still shy of $1 per share on Aug 29,2024, WTI was similar to close of today, 73.57 $/bbl and SU closed 54.66 on Aug 29 versus 53.48 today So my guess is Oil short is still above the norm (JMO, i don't monitor trade or option volumes)